Peoples Financial Services (NASDAQ:PFIS) Stock Price Expected to Rise, Hovde Group Analyst Says

Peoples Financial Services (NASDAQ:PFIS) had its price objective lifted by equities researchers at Hovde Group from $48.00 to $53.00 in a research note issued on Monday, MarketBeat.com reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price target indicates a potential upside of 0.95% from the company’s previous close.

Separately, StockNews.com upgraded shares of Peoples Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Peoples Financial Services Stock Performance

PFIS opened at $52.50 on Monday. Peoples Financial Services has a twelve month low of $36.26 and a twelve month high of $55.64. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. The stock has a market cap of $523.95 million, a PE ratio of 50.97 and a beta of 0.50. The business’s 50 day moving average is $47.07 and its 200-day moving average is $44.32.

Peoples Financial Services (NASDAQ:PFIS) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.56. Peoples Financial Services had a net margin of 3.00% and a return on equity of 8.50%. The company had revenue of $74.01 million during the quarter. On average, analysts predict that Peoples Financial Services will post 3.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFIS. Vanguard Group Inc. increased its position in shares of Peoples Financial Services by 2.1% in the first quarter. Vanguard Group Inc. now owns 322,786 shares of the financial services provider’s stock valued at $13,915,000 after acquiring an additional 6,776 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Peoples Financial Services by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 191,934 shares of the financial services provider’s stock worth $8,740,000 after buying an additional 9,122 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Peoples Financial Services by 45.0% in the third quarter. PNC Financial Services Group Inc. now owns 50,884 shares of the financial services provider’s stock valued at $2,385,000 after buying an additional 15,802 shares during the period. Bank of New York Mellon Corp raised its position in shares of Peoples Financial Services by 19.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,178 shares of the financial services provider’s stock valued at $2,148,000 after buying an additional 7,831 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Peoples Financial Services by 58.6% in the third quarter. Empowered Funds LLC now owns 45,345 shares of the financial services provider’s stock valued at $2,126,000 after buying an additional 16,753 shares in the last quarter. 31.67% of the stock is currently owned by institutional investors.

Peoples Financial Services Company Profile

Peoples Financial Services Corp. operates as the bank holding company for Peoples Security Bank and Trust Company that provides various commercial and retail banking services. The company accepts money market, negotiable order of withdrawal, savings, individual retirement, demand deposit, and certificates of deposit accounts.